India, Oman to sign pact on digital finance & payments
National Payment Corporation of India (NPCI) and Central Bank of Oman will soon sign an agreement for corporation in digital finance and payments. The historic partnership will make it easier for Indian employees and professionals in Oman to use RuPay cards and the UPI platform and collaborate for smooth digital transfers.
The agreement will be signed in Muscat during Monday-Tuesday visit of Minister of State for External Affairs V Muraleedharan. The MOS will hold further high-level discussions with a cross-section of the leadership in addition to meeting with the Omani Foreign Minister to review the overall status of the bilateral relations. The inauguration of a statue of Mahatma Gandhi at the Indian Embassy in Muscat will be a major highlight of the trip.
India is one of the biggest foreign investors in Oman with total investment over $7.5 billion, with overall trade reaching around $10 billion in FY 2021–2022, bilateral trade is increasing. A potential new area of cooperation between the two nations has surfaced as Oman strives to establish itself as a global centre for green hydrogen. (tpci)
